Balfour Beatty completes £180m American military PPP deal

Balfour Beatty has completed the £180m acquisition of a military PPP accommodation business in America.

The seller was GMH Communities Trust.

The deal was funded out of Balfour’s cash war-chest.

The name of the new business will be changed to Balfour Beatty Communities.

Ian Tyler, Balfour’s chief executive, said: “The acquisition is central to implementing our US strategy. It adds a high-quality PPP to our US group in one of our key target market sectors.

“GMH will be an excellent springboard into other emerging PPP and support service sectors in the US market.”